HVAC Insurance
Insurance Solutions for HVAC Contractors
HVAC or Heat & Air Contractors Insurance is a specific insurance program for HVAC, or Heat & Air Conditioning installers, sales, service or repair business. HVAC contractors work in both residential and commercial projects. They can perform minor repairs to installing new residential or commercial systems.
One of the most important coverage needed for a HVAC contractor is having Contractor’s General Liability insurance. This policy will defend your business against a claim and pay damages awarded for property damage or bodily injury.
An important coverage to protect your equipment is an Inland Marine policy to protect HVAC Equipment and tools transported to and from job sites. This includes Contractor’s Equipment Coverage, Property in Transit & Equipment Breakdown insurance.
Business Income Insurance can also be used to replace Loss of Income if a storm or a catastrophic event shuts down operations. This insurance pays to retain key employees, move to a new location, expedite repairs, pay daily operating expenses that are still contractually obligated despite the catastrophic event.
Another important type of insurance includes Errors & Omissions to protect the company against a suit for negligent acts committed that result in a loss to a client. Errors & Omissions claims, also known as Professional Liability Claims are on the rise and are being filed in lieu of General Liability claims as a cost recovery offset. {Click here to read more about how E&O is used as a cost recovery offset}. Any party in the supply chain deemed to have known some basic facts about the project can conceivably be brought into an E&O suit, which is not covered under a General Liability Policy which explicitly excludes E&O coverage.
Business Auto & Non Owned Auto is a policy that would help defend and pay for claims resulting from an employee’s accident while driving a company vehicle or their own vehicle during company time.
Employers have a legal responsibility to their employees to make the workplace safe. Worker’s Compensation Insurance protect your employees and pay for medical treatment, lost wages, rehabilitation if there is an accident. Unfortunately, accidents occur even when every reasonable safety measure has been taken, and Worker’s Compensation Insurance is one of the most cost effective means to ensure the well being of employees.
Employee Surety Bonding protects against employee theft and dishonesty. Bonding provides the company compensation if there is a property loss due to acts of an employee. The employee can also be bonded to protect customers in the event of a property claim.
Whether your HVAC or Heat & Air Contractors Business is in Sales, Service, Installation or Design, there are some very specific risks that need to be addressed to ensure your company is protected. Commercial Global Insurance has the solutions to protect your business.
